GDX could go to single digits. More than fully valued at these prices assuming gold will have a decent run. If Chinese economy is in trouble, then they won't have money to buy gold. Also seasonally GDX is approaching its open season from mid-october to year end.
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Said they don't see growth getting to 2% for 2 years and some stated they lose credibility if they move BEFORE it gets to 2 % - I AGREE 100 % BUY BUY BUY ! !
Japan considering QE too !
Sentiment: Strong Buy
This MEGA BUBBLE HOT AIR HYPE JOB is heading for a price of 1.00 or LOWER by close of the year.......we are on the verge of a DESERVED PANIC SELL CRASH in all these WORTHLESS gold/silver PIG FARMS!!!!
That what I was thinking in the old days. Economy goes down, gold demand goes down, gold prices goes down. Check the chart during the Economy shakeout in the past. I would not be buying gold yet.
Hasn't unwound yet, but if it does . . .Gold rockets! and the earnings season is upon us. If we get reports showing major economic slowing, nervous foreign investors could head to the exits and repatriate funds. That would trigger an unwinding.
GDP estimates have been slashed from 3.9 to under 2 %. Truck volumes still falling when they should be going UP for holidays, ISM service sector was unexpectedly low, jobs number was low.
USD slipped a notch today. GLD is in an upward limit zone.
Shall we get ourselves some inefficient tradings done to kill time before a clear winner comes out?
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Girls, the main reason I’ve CORRECTLY warned against these DYING gold/silver PIG FARMS is because the entire sector’ is RIGGED by the sleazy wall street club, in cahoots with the BOGUS regulators (CFTC, COMEX, SEC, etc) who actually serve as errand boys for the gold/silver SHORT players. To that effect, the wall street slimesters constantly purvey NONSENSE, yet the typical gold/silver BOOBSTER NEVER challenges it.
Here is my favorite example: back in the late 70s, the interest rate roared higher and higher, all the way to 18%...and during that period of increasing interest rates, golds and silvers jumped through the roof. Now, girls, the way the media whoore shills for the wall street sleazesters tell it, again and again, is that rising interest rates are supposed to be bad for the golds/silvers. BUT, what they fail to state is the FACT that as long as the price of bullion is jumping sharply, then nobody would care whether there is any interest rate yield in gold or silver......the sharply rising bullion price would more than compensate for absence of yield. That is PURE FACT!
Or here’s another example:: before markets were rigged so obviously, rising rates would cause stocks and bonds to crater---and the only logical flight to safety would be the lousy golds/silvers....that made sense! But, girls, when the sleazy Treasury Secretary himself, a shill for aggressive gold/silver SHORTS at Citigroup, constantly undermines golds/silvers, then what hope is there for a “free” market to allow for these trash metals to react positively?? Answer: NO chance in hell!
Girls, the sleazy wall street club controls ALL Big Media today, along with the political puppets, along with the judiciary itself-- and they collude to brainwash the public into thinking that rising rates are supposed to be bad for golds/silvers...yet historically, that was NOT true. That said, girls, nothing but the sounds of silence coming from the gold/silver exec BOOBSTERS!! LOSERS! LOL
That's the beauty in it - It doesn't have to ! It just has to get close enough to get people's attention. Attention leads to interest, which leads to investment.
Besides, . .that is just " ONE" of about 13 issues which are favorable for gold bugs. (Like miners bottoming on profits, like markets declining, like more financial stress in many countries, like FED on hold !, Like dollar NEEDS to UNWIND !, like repatriation of assets to Japan and Saudi Arabia, like coming earnings reports, like China and other MAJOR central banks BUYING, etc....
I can't believe the SHORTS don't have any factual response - Must mean the bottom is now in for the miners too. (gold bottomed a while back)
Its just a matter of time before these financial issues slow the markets further. I think the global monetary experiment could be running out of runway. Should be GREAT for gold assets !